Cash loss is a major problem for retailers. Preventing cash loss at the POS comes down to a combination of people and systems. A retailer needs honest cashiers, attentive managers and systems that keep everyone honest who is involved in cash handling.
One way to address it is by preventing employee theft, which retailers can accomplish cost-effectively through the use of cash management solutions. By investing in the technology, companies can enjoy the benefit of reduced shrink – an improvement to the bottom line.
Using technology to tackle theft and mistakes at the POS will not totally eradicate shrink for retailers, considering administrative errors and inventory shrink caused by fraudulent actions also contribute to the problem. However, technology that makes cash handling transparent and more accurate is instrumental in reducing cash loss, in some cases as much as 90%.
Thanks to innovative cash management technology, retailers can resolve these issues: